Payment services provider (PSP)
News about Payment services provider (PSP).
July 25th, 2016
Mastercard is planning to apply to become a payment service provider (PSP) in China this year but is still deciding whether to do so alone or with a partner, according to Reuters. “China in June allowed foreign payment card companies to operate in the country under new rules,” the publication reports. “Under the rules, China’s national security and cyber security standards must be met. Applicants must also hold 1 billion yuan (US$150m) in registered capital in a local company.”
June 7th, 2016
Istituto Centrale delle Banche Popolari Italiane (ICBPI) is to establish an instant payments solution in the first quarter of 2017 in partnership with Danish payment services provider Nets. “Based on the very successful implementation of Nets RealTime24/7 solution in Denmark, the ICBPI’s instant payment platform will serve the Italian Payment Service Providers (PSPs),” Nets says. “There will be no limit to the use cases but the focus will be on mobile payments, initially targeting P2P payments.”
July 14th, 2014
CUA, Australia’s largest customer-owned financial institution, has become the first in the Asia Pacific region to launch an NFC payments service that makes use of host card emulation (HCE) technology. To use the new redi2PAY…
September 14th, 2011
Mobile payments will represent 15% of all card transactions by 2013, and will overcome card volumes within 10 years if growth continues at the same rate, according to the World Payments Report 2011.